A basic guide to the legalities of purchasing real estate in France

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A Basic Guide to the Legalities of Purchasing real estate in France:

Although this process can become slightly more complex, in basic terms this is what will happen:

  1. Your offer has been accepted by the vendor (some agents will request an offre d'achat which is very basic).


  2. The Estate Agent or Notaire will complete a document known as the Compromis de Vente, this document commits both buyer and seller to the deal and a deposit is lodged with the Notaire.


  3. At this stage one should decide if additional clauses need to be added; eg. outline planning permission, subject to sale of property in UK etc.


  4. The other clauses that are standard will confirm the details of the property, the price to be paid, the allocation of fees, the deposit being paid, if a loan is required and the completion date.


  5. After signature of this document a loan will need to be obtained where necessary.


  6. The Notaire proceeds with searches and other necessary details to ensure that the final deed of sale will be correct.


  7. Generally after between six and twelve weeks the Deed of Sale is complete and ready for signature by all parties. If a loan is being used, the Notaire will also act on behalf of the Lendor.


  8. Between the signing of the Compromis and the Deed of Sale, if one of the parties withdraws, the other party can receive a penalty of 10% of the purchase price.


  9. It is normal, after signature of Deed of Sale, that the house, and anything that remains within, are immediately the property of the purchaser unless otherwise specified.


  10. In France, it is obligatory to have insurance on your property and a certificate will need to be produced to the Notaire by the time of signing to confirm that his has been put in place.


  11. New laws brought out in June 2001 also state that a certificate must be produced confirming that the property is termite (and in some cases also asbestos) free. This will be organized by the Estate Agent at the cost of the Vendor.


  12. The law also states that there has to be a cooling off period of 7 days for all parties to reflect that they have made the right decision in signing the Compromis. This contract can be annulled at no cost to the buyer providing it is put in writing within the specified time.